The 'Goods and Services Tax' on construction services is: MCQ with Answer and Explanation

Question
The 'Goods and Services Tax' on construction services is:
A. 12%
B. 5%
C. 18% for commercial construction
D. 28%
Answer: Option C
Solution (By JKSSB Mock Tests)
Commercial construction services attract 18% GST.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' input tax credit is claimed by:
A. the final consumer
B. unregistered dealers
C. the government
D. registered businesses on their purchases
Discuss
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Correct Answer: Option D

Explanation:
Registered businesses can claim input tax credit on their purchases.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'Search Theory' of unemployment?
A. Only aggregate demand determines unemployment
B. Unemployment arises from the time-consuming process of matching workers and jobs
C. Unemployment is only classical and caused by high real wages
D. Markets always clear instantaneously
Discuss
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Correct Answer: Option B

Explanation:
Search-and-matching theory explains frictional and structural unemployment as the result of imperfect information and the costly process of matching heterogeneous workers with heterogeneous jobs.
This question belongs to: Economy GK Economy Set 1
Question #3
The Self-Help Group Bank Linkage Programme in India is implemented mainly by:
A. EXIM Bank
B. SEBI
C. NABARD
D. IRDA
Discuss
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Correct Answer: Option C

Explanation:
NABARD is the main implementing agency for the SHG-Bank Linkage Programme.
This question belongs to: Economy GK Economy Set 1
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